A Welsh building society is working with a climate action organisation to improve its carbon footprint.
Over the past two years Monmouthshire Building Society has been working with ClimatePartner to establish its carbon emissions and begin to make changes towards becoming net zero by 2050, the requirement for companies in the UK.
The society is seeking to improve its environmental credentials as part of its Environmental, Social and Governance (ESG) initiative and has selected ClimatePartner for their ability to embed sustainable climate action into corporate activity.
The society has recently been accredited with the ClimatePartner certification, acknowledging that the company has provided a transparent disclosure of their entire climate action strategy, including carbon footprints, emissions reduction targets, implemented reductions and financial contribution towards climate change projects worldwide.
Since 2022, the society has reduced its total emissions by 52% for the period 2022-2023 and around a further 20% in the last year.
Last year it offset its total recorded emission of 644 tonnes CO2e via both UK and international projects. This included planting 250 trees in Neath.
Achievements and commitments have included:
- Using 100% renewable energy across all offices and branches, making premises more efficient.
- Ensuring 10% of on sale products support green initiatives
- Supported members with £27.2 million of mortgages for energy efficient homes (EPC A or B)
- Began to replace paper welcome packs with digital packs, using robotics process automation
- Making a substantial reduction in paper usage and printing and increasing use of recyclable materials
Dawn Gunter, Chief Operating Officer at Monmouthshire Building Society, said:
“We’re delighted to have achieved ClimatePartner certification and will continue to take a proactive approach towards reducing our carbon emissions.
“The steps we have taken in reducing our energy use, using more recyclable materials and offsetting our carbon emissions have provided a great starting point and we’re proud of our commitment to the environment and supporting our members and local businesses to offset their carbon footprint.
“However, we understand that this is only the start of our journey and there is still much to be done to reach our goal of becoming net zero by 2050.”
